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July 1, 1980
- Reduced eligibility for Normal Retirement at age
65 from 10 years service to 5 years.
January 1, 1985
- Increased credited and vesting service for hours
worked in excess of 2,080, allowing participants to
earn extra service for overtime worked.
January 1, 1987
- Changed vesting requirement rules from 10 years
of credited service to 5 years vesting service for a
deferred retirement pension.
December 1, 1987
- Pensioners received a 13th check.
December 31, 1987
- Changed eligibility for Early Retirement from 10
years of credited service to 5 years of vesting
service
- Reduced the factors for Early Retirement.
January 1, 1990
- Early Retirement with no reduction at age 62.
December 1, 1990
- Pensioners received a 13th check.
January 1, 1994
- For vested Participants, added Pre-Retirement
Survivors Death Benefit provision for spouses and
beneficiaries. For non-vested Participants,
added Lump-Sum Death Benefit provision for spouses
and beneficiaries.
December 11, 1997
- Pensioners received a 13th check.
January 1, 1998
- Active Participants received and additional
pension based on years of credited service.
- Pensioners received a 5% benefit increase.
December 1, 1999
- Pensioners received a 13th check.
January 1, 2000
- Active Participants received a 12% benefit
increase
- 5-year Certain and Life benefit added.
- Pop-up Provision added.
- Lump-Sum maximum raised from $5,000 to $10,000.
January 1, 2001
- Active Participants received a 7% benefit
increase.
- Pensioners received a 5% increase (minimum of
$10 per month).
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